v3.26.1
Segment Reporting
3 Months Ended
Mar. 31, 2026
Segment Reporting  
Segment Reporting

Note 8 – Segment Reporting

The Company’s business consists of acquiring and owning a diverse portfolio of hospitality properties, primarily, select-service, extended-stay and compact full-service hotel properties throughout the United States operating in a single segment. The Company’s President and Chief Executive Officer is its chief operating decision maker (“CODM”) responsible for managing and allocating resources for the Company at a consolidated level.

The CODM uses consolidated net income to assess the segment’s overall performance, with specific focus on the segment revenue and expenses associated with the Company’s hotel operations. The table below includes information about the Company’s segment, including significant segment expenses, and a reconciliation to net loss.

Three Months Ended March 31, 

2026

  ​ ​ ​

2025

Revenue:

Total revenue

$

5,111,943

$

5,846,974

Operating expenses:

Rooms

1,241,255

1,367,983

Food and beverage

358,092

338,392

Other property operating expenses

2,572,278

2,553,061

Property management fees to affiliates

153,310

175,662

Other segment expenses (1)

1,511,405

1,609,050

Operating loss:

(724,397)

(197,174)

Non-operating expenses:

 

 

Interest expense, net

 

(1,084,750)

 

(953,354)

Income tax (expense) benefit

 

(1,600)

 

216,887

Segment and consolidated net loss

$

(1,810,747)

$

(933,641)

(1)Other segment expenses include corporate general and administrative, other fees to affiliates and depreciation and amortization.